Hello Traders,
lets say I am placing a bracket order
Sell ABC @ Limit 345
Stop loss points 2 (price 347)
Target 5 points (price 340)
When I am placing the order lets say the price jumps to 346 and as its a limit order order might get filled at 346. Now will my SL and target be adjusted via points as per the current entry price? ie SL=348 and Target=341?
Kindly clarify
Hi @trader29,
One mistake you have made in your query, since you will be using the sell BO, the target will be to buy lower(if the sell had executed at ₹345 and you had kept target as 5, then if the sell executes at ₹345, target will be fixed at ₹345-5=₹340) Like you rightly said the stop-loss and target in the bracket order is in absolute numbers, so if the initial order is complete at ₹346, immediately there is a target order sent to exchange to buy at 5 rupees below this price, i.e. at ₹341.
Cheers,
Lindo